R&I – FS
If there are any lingering doubts over exactly who holds the upper hand in the United States jobs market these days, Tuesday’s latest figures from the Department of Labor should put them to rest – because workers haven’t had this much power to call the shots in decades.
The latest Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday showed a record 4.5 million Americans voluntarily quit their jobs in November. That is an increase of 382,000 over the previous month.
Meanwhile, the number of job openings fell by over half a million from October to 10.6 million in November, but that is still significantly high by historical standards.
Customer-facing leisure and hospitality jobs – which include hotels and restaurants – as well as retail, saw the highest number of workers head for the exits. The highest number of job openings continue to be in those sectors as well, despite decreases from October to November.
Economists have been scratching their heads over why there are so few workers available for businesses to hire, but factors ranging from fear of contracting COVID-19, to childcare challenges, baby boomers taking early retirement, and workers unlocking their entrepreneurial spirits to start businesses of their own are believed to be factors.
jw
Article URL : https://www.aljazeera.com/economy/2022/1/4/americans-keep-quitting-their-jobs-in-record-numbers